The following information was taken from Navaria's financial records for the year ended June 30, 2020:...

 

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The following information was taken from Navaria's financial records for the year ended June 30, 2020: (in thousands of dollars) Administrative expenses Cost of goods sold Other expenses Financing expenses Interest revenue Income tax expense Sales revenue $9,485 79,883 642 825 632 4,962 120,183 Engineering activities Research and development activities Sales and marketing activities Navaria Inc. Statement of Income (in thousands of dollars) Rental of Wages Equipment Advertising Depreciation $1,923 + 770 3,579 Prepare a multi-step statement of income for the year ended June 30, 2020 that reports expenses by nature. (Enter amounts in thousands.) $71 36 0 A $0 0 5,887 $524 128 27 The following information was taken from Navaria's financial records for the year ended June 30, 2020: (in thousands of dollars) Administrative expenses Cost of goods sold Other expenses Financing expenses Interest revenue Income tax expense Sales revenue $9,485 79,883 642 825 632 4,962 120,183 Engineering activities Research and development activities Sales and marketing activities Navaria Inc. Statement of Income (in thousands of dollars) Rental of Wages Equipment Advertising Depreciation $1,923 + 770 3,579 Prepare a multi-step statement of income for the year ended June 30, 2020 that reports expenses by nature. (Enter amounts in thousands.) $71 36 0 A $0 0 5,887 $524 128 27

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Income Statement for the year ended In Thousands Particulars 1 Sales 2 Cost o... View the full answer